PIC and BII Forge Strategic Partnership to Boost Investment and Development Across Africa
The Public Investment Corporation (PIC) and British International Investment (BII) have announced a groundbreaking partnership through a Memorandum of Understanding (MoU) aimed at accelerating impactful investments throughout Africa. This collaboration brings together one of Africa’s largest asset managers and the UK’s leading development finance institution to foster sustainable economic growth on the continent.
The MoU establishes a framework for the two organizations to share deal pipelines, identify joint investment opportunities, and explore co-investment strategies across sectors such as agriculture, financial services, infrastructure, and climate initiatives. By leveraging their combined expertise and resources, PIC and BII intend to unlock new avenues for capital deployment that will support transformative development projects.
Both parties are committed to reviewing investment opportunities across debt, equity, and fund structures, with a focus on aligning their mandates to maximize social, environmental, and economic impact. PIC’s investment scope includes sectors like agriculture, manufacturing, mining, and infrastructure, primarily within South Africa and the broader African region. BII, with over 75 years of experience and a portfolio exceeding US$5.6 billion invested in more than 800 African companies, aims to support sustainable and inclusive economic growth through long-term capital.
Outgoing PIC CEO Mr. Abel Sithole emphasized that partnerships are central to PIC’s development strategy. “This alliance with BII reinforces our commitment to fostering infrastructure development, industrialization, and trade across Africa through blended funding models,” he stated.
PIC’s Chief Investment Officer, Mr. Kabelo Rikhotso, highlighted the importance of collaboration, noting, “Sharing deal pipelines and co-investment opportunities will expand our reach and impact, enabling us to deliver on our mandate more effectively.”
BII CEO Mr. Leslie Maasdorp expressed enthusiasm for the partnership, saying, “Combining our expertise and resources with PIC’s local presence creates new opportunities to drive sustainable development, attract commercial capital, and support economic growth across Africa.”
British High Commissioner to South Africa, Mr. Antony Phillipson, welcomed the partnership as a significant step forward in strengthening UK-South Africa relations. “This collaboration underscores our shared commitment to mobilizing capital for inclusive and resilient growth across the continent,” he remarked.
This landmark partnership signals a united effort to unlock Africa’s developmental potential through strategic investment, sustainable initiatives, and enhanced cooperation between key financial institutions